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BlockFi Monthly Update – November 27th, 2019

Published, 27 November, 2019

This month the BlockFi team has been hard at work. We launched Allowlisting, added a Wallet Address Book, and made updates to the BlockFi dashboard. This month we’re also announcing that we’ll be increasing our Tier 1 level for BTC and ETH (changes to take effect December 1, 2019).

BlockFi clients will be receiving their BlockFi Interest Account (BIA) interest payment on the first business day of December (12/02/19). Please note, with the U.S. Federal Holiday coming up, response times may be slower than usual on November 28th. In addition, if you’re applying for a loan it may take up to 48 hours to process.

Earn Even More With BTC and ETH Tier Increases

As a way to provide more earning opportunities for our clients, BlockFi is making the following tier adjustments, which will go into effect December 1, 2019.

BTC

BTC balances of 0 to 10 BTC will now earn 6.2% APY (previously 0 to 5 BTC)
Balances above 10 BTC will earn 2.2% APY

ETH

ETH balances of 0 to 1000 ETH will now earn 4.1% APY (previously 0 to 500 ETH)
Balances above 1000 ETH will earn 0.5% APY

*** This will mark our second significant ETH increase this quarter. We previously raised our Tier 1 ETH level from 200 ETH to 500 ETH earlier this month.

You can learn more about our rates here.

Allowlisting & Wallet Address Book

One of our clients’ most requested features was Allowlisting, so we’re happy to announce that you now have the option to add crypto wallet addresses to your Wallet Address Book. This allows you to pre-select from frequently used crypto wallet addresses when withdrawing. Additionally, if you’d like to add another layer of security to your BlockFi account, you now have the option to enable Allowlisting.

You can read more about how to save wallet addresses to your Wallet Address Book and enable Allowlisting here.

Dashboard Update

We’ve updated our dashboard with a fresh new look that provides an overview of account balances across all products. You can check it out by signing into your BlockFi account here.

Learn More

If you’re looking to learn more about crypto and what we do at BlockFi, you can listen to our CEO and Founder Zac Prince’s recent podcast interview on Squashing the Market here.

If you ever have any questions, our support team is always happy to help. Call us at +1 (646) 779-9688 or email us at support@blockfi.com.

– The BlockFi Team

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Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Crypto assets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts. For more information, please see BlockFi’s Terms of Service__.

Last updated on February 3rd, 2021

As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.

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Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.

BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.

BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.

See blockfi.com/terms for more information.